Scotland business

Registry Trust: Fewer debt judgments against firms

Rubber stamp marked "past due"
Image caption The average value of business debt was just under £5,500 last year, according to Registry Trust

Almost 1,000 fewer debt judgments were issued against Scottish businesses last year, according to figures released by a non-profit organisation.

Registry Trust said the number of judgments fell from 6,062 in 2011 to 5,075.

The overall amount of business debt fell slightly from £28.6m in 2011 to £27.6m.

Its latest statistics also showed that the average value of business debt was £5,437 last year.

Meanwhile, the combined value of debt judgments faced by Scottish consumers fell by nearly a third in 2012.

The number of judgments also fell - from 25,857 in 2011 to 22,378 last year.

The average judgment award dropped from £3,582 to £2,878.

Registry Trust collects information on small claims, summary decrees and ordinary causes in Scotland for credit reference and public information purposes.

Registry Trust chairman Malcolm Hurlston said: "Falling judgment numbers may not necessarily mean there is less debt overall.

"Taking a debtor to court is just one of a number of options available to a creditor.

"It is noteworthy that creditors are finding it worthwhile to pursue smaller sums from consumers in the courts."

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